A House Sells for $282,500 and a 35% Down Payment

Multiple Choice

A house sells for $282,500 and a 35% down payment is made. A 15-year mortgage at 7.5% was
Obtained. Find the monthly payment and the total interest paid.

A) Monthly payment = $1,704.04; total interest paid = $123,102.20
B) Monthly payment = $1,695.89; total interest paid = $121,635.20
C) Monthly payment = $1,713.15; total interest paid = $124,742.00
D) Monthly payment = $1,804.03; total interest paid = $141,100.40